In a recently unveiled memoir, called Ithaki, the ex- prime minister Tsipras pulls no punches while he examines the chaotic era during Greece's financial crisis.
An Unconventional Choice
As per the ex-PM's version, he chose the maverick economist Yanis Varoufakis to be his finance minister largely because of his global profile and Varoufakis's very persuasive skills when it came to public orator.
“In reality, he was, in reality, more like a star rather than an economist,” stated Tsipras.
Clashing Priorities
Tsipras alleges that Varoufakis possessed a personal motives which involved advancing his books and experimenting with his economic models on Greece instead of genuinely advocating its financial survival.
Tsipras explained how those talks to prevent bankruptcy were “not only a method of achieving improved terms for the country. They were a test, an historic opportunity to prove the validity of his ideas.”
Critical Negotiations
Amid rollercoaster negotiations, Greece came dangerously on the brink of leaving the single currency area.
On the line was both Greece's destiny and those punishing austerity policies required in return for bailout funds by foreign lenders.
Unsuccessful Alternatives
Attempts to secure funds elsewhere, including a desperate appeal to the Kremlin to purchase Greek bonds, were rejected.
Assisting Greece would be tantamount to tossing cash in the trash-can, the Russian leader is reputed to have told his Greek counterpart during their meeting.
Public Vote and Reversal
That summer, the harsh conditions were subjected to a public vote, a move that plunged the EU into deeper crisis of identity.
Even though the vote was carried resoundingly by voters who opposed the cuts, Tsipras was forced but to reject its outcome then agree to a bailout package with foreign lenders that proved to be tougher.
Final Straw
The ex-PM revealed how he started questioning Varoufakis quite early on.
“He was the face of the talks, the figure who attracted media attention, who appeared on the front pages of magazines globally … he gave the impression he relished his new role.”
When Varoufakis outlined a contingency plan that included establishing a secondary currency as well as distributing coupons to retirees, the leader knew that it was game over and asked Varoufakis: “Can you be serious?”
Enduring Rebuke
In the memoir, Tsipras asserts how his former ally demonstrated himself to be “unsuitable for an agreement that required intricate and delicate handling.”
He further wrote that Varoufakis's aggressive approach left him increasingly isolated with colleagues, put Greece at risk, and helped hawks who were pushing for Grexit.
This account of events has provoked anger and shock among certain groups, while Varoufakis has kept a deafening silence on the matter.
